Solutions Value: $15,000+
NFE Solution: Consulting; FES
A cold call from National Flood Experts paid off big for a national real estate investment, management, and development company, that wanted to explore ways to reduce or eliminate flood insurance expenses for a shopping center in Manchester City, VT.
NFE provided a comprehensive solution to the Client's challenges. First, NFE initiated a complementary desktop engineering review to identify any potential avenues for cost savings for the property. Based on the initial assessment, NFE identified a potential cost-saving scenario for the policy but needed property-specific data to confirm the solution and recommended conducting a Flood Expert Survey (FES) to gather the needed data.
NFE performed the FES and analyzed the findings, solidifying a consulting scenario to reduce the policy premium significantly by applying engineering data. Leveraging our expertise, NFE prepared the requirement documentation to request the updated endorsement from the insurance carrier. Thanks to NFE's efforts, the carrier confirmed the endorsement change, and the client’s policy was reduced by more than $15,000 per year.